Technical Help (2): Forex AutoPilot EA

Due to the recent program reliability issues (i.e. EA inactivity and Invalid price error_129), Marcus Leary and his support team made a first-time direct e-mail response to me and claimed that the problem has finally been resolved with the latest update on the ForexAutopilot EA. Click here for more info and the new EA should be updated in the member's area.

I also took this opportunity to raise my point regarding the EA trading and its potential system drawdown in hope to figure out the working of this forex autopilot EA. We've already seen quite a strong performance for this EA as the Euro rode from the 1.48 level to the current level of 1.54 !

I direct the following question to Marcus:

Q1: At what point the EA decides to take a loss and what is the acceptable drawdown for this EA?

Here is his full response:

It decided to stop according to signals from inner indicators. ForexAutopilot EA does not use fixed stop loss. It uses smart settings for stop loss to close losing trades according to inner indicators. EA with fixed stop loss will finally loose your deposit if trading against trend. Our ForexAutopilot EA does not have such problem. when i backtested i saw drawdown near 20-30% if trading with low risk.

I recommend to trade FAPS ea:
0.1 lot for deposit 1000-2000 usd
0.5 lot for deposit 5,000
1 lot for deposit 10,000

Earlier, I also send some of my queries to Andreas:

Q2: May I ask what is the eurusd_m1.set? And where should it be placed plus how can we change the default parameter?

Q3. LotsRiskReductor – Defines the risk. The parameter default is 1 , and what does it means. At what point, the EA decides to take a loss?

Here is Andreas's reply:

eurusd_m1.set can be skipped. It contains default parameters to let user load them if he wants to use default parameters after changing EA settingsLotsRiskReductor

To let program use AutoLot management (it means that IE decides the lot size itself) the variable Lots should be set to zero. So LotsRiskReductor will define the risk size. LotsRiskReductor can be from 1 to 10. 1 means 10% of risk of deposit. 10 means 100% risk.

If you have any problem/issue regarding this FAPS ea, you can try its support team or forward me your queries. I will put up a Q&A for everyone to read.

Latest Update: Great news ! My site readers can now use this e-mail address to reach Marcus & support team 'faster'. In addition, the technical problem surrounding the forexautopilot EA has been resolved via the latest EA update. In the mean time, you can also check out this latest performance report from the forexautopilot trading team.


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Technical Help: Forex AutoPilot EA